As manufacturers, we know all too well that we must be adaptable. This has been particularly evident over the past few years with external challenges impacting operations while new technologies continue to emerge.
Advancements in technology and a shift in priorities within the industry have led to new trends which aim to improve efficiencies, tackle potential challenges and boost your business. Here are 5 current trends which can do just that:
- The Rise of AI and Digital Integration:
Developments in technologies such as AI (Artificial Intelligence) and digital twins are using machine learning and real-time data to help manufacturers enhance their day-to-day operations remotely. These digital processes can be implemented across various manufacturing stages from production lines to deliveries.
This smart automation is making waves in the industry due to the increase in productivity, control and safety which are now possible. Read our recent news article to find out more about the future of AI manufacturing.
- Shifting to Reshoring:
While Brexit and the pandemic brought reshoring to the forefront, geopolitical matters and rising costs mean that it is still apparent in 2024.
Within the UK, many manufacturers continue to bring their operations back home to strengthen their supply chain, boost local economies and meet consumer requirements. The rise in this trend is benefiting not only the businesses themselves but also the wider UK manufacturing environment.
- Optimisation of Supply Chains:
Supply chain disruptions over the years have caused businesses to stop and rethink their strategies. Whether this is through restructuring material suppliers or the digitalisation of their supply chains.
Now that businesses are aware of the importance of a solid supply chain, they are continuing to invest in cyber resilient supply chains and considering the adaption of their current methods.
- Workforce support:
The recent surge in labour shortages combined with the increase for manufactured goods means that companies in 2024 are now investing further into their workforce. Business owners are now focusing on employee retention and growth by:
- Ensuring all processes are assessed for efficiency.
- Providing staff with the latest training.
- Adopting enhanced health and safety measures.
- Identifying skills gaps which require attention.
- Prioritising Sustainability
The rise in corporate social responsibility (CSR) has encouraged manufacturers to analyse their facilities, production methods and supply chain to identify ways to reduce their carbon footprint.
Large and small companies are now setting milestones for their environmental goals and adopting new technologies such as sensor-controlled electrics, electric vehicles and more to meet these objectives.
Improve Your Efficiency Today
All of the above-mentioned trends can help revolutionise your working methods and create better services for your customers and employees.
As fastener manufacturers with over 85 years of experience within the industry, we have witnessed the rise of advancements within the industry, and we would be happy to share our knowledge in both manufacturing and cold forged components! Simply contact us today.